https://www.taxtmi.com/caselaws?id=768285 ITAT Chandigarh dismissed Revenue's appeal regarding under-valuation of closing work-in-progress. The tribunal held that excise duty need not be included in WIP valuation under Section 145A as no actual payment was made since the levy stage had not arisen. Only actual payments, not proposed payments, are contemplated. Regarding bonus/ex-gratia disallowance under Section 43B, the tribunal upheld CIT(A)'s direction to verify payment dates, ruling this constituted limited verification rather than remand. CIT(A) correctly deleted the addition as payments were made before the return filing due date. en-us Fri, 30 Aug 2024 00:00:00 +0530 Thu, 03 Apr 2025 11:15:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768285 ITAT Chandigarh dismissed Revenue's appeal regarding under-valuation of closing work-in-progress. The tribunal held that excise duty need not be included in WIP valuation under Section 145A as no actual payment was made since the levy stage had not arisen. Only actual payments, not proposed payments, are contemplated. Regarding bonus/ex-gratia disallowance under Section 43B, the tribunal upheld CIT(A)'s direction to verify payment dates, ruling this constituted limited verification rather than remand. CIT(A) correctly deleted the addition as payments were made before the return filing due date. Case-Laws Income Tax Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768285